When is a picture worth a $1,000 dollars? When its on The Fancy.
The new social site The Fancy is also trying to prove they could be worth a lot of money. According to Business Insider, Apple is in talks to acquire the fast-growing social commerce site backed by the co-founders of Twitter and Facebook. Already being called an archrival to Pinterest, but with a far smaller group of active members, The Fancy works in a similar way. It is a photo-sharing website that, according to it’s about page is, “part store, blog, magazine and wishlist. It’s a place to discover great stuff, to curate a collection of things you love, to get updates on your favorite brands and stores and to share your discoveries.” While Pinterest ranked 16th on Alexa with 10 million active users so far in 2012, The Fancy doubled it’s users in two months to 500,000, making it the second largest social scrapbooking / picture sharing sites online. While Pinterest clearly dwarfs The Fancy at the moment, some believe a David and Goliath battle is about to occur between the two startups.
How The Fancy can Challenge Pinterest
According to Forbes.com, there is one main feature that The Fancy has going for it that may be a real challenge for Pinterest to overcome. While Pinterest is similar to thumbing through pages of your favorite magazine or window shopping and seeing items you really like, you still can’t buy the items off the site itself. However, The Fancy allows users to buy items directly off the site. This allows there to be direct ecommerce through The Fancy as they can take a cut of each item purchased through their site, giving it extra revenue where Pinterest has none.
The New Cool Kid
For a while, there was only Pinterest and since it was the newest social media advancement out there, it was the coolest kid on the scrapbooking block. However, now that The Fancy exists, it is new, different and in many cases better. At least, that’s what some of the biggest celebrities in the business are saying. Kanye West tweeted to 7 million followers that The Fancy was “pretty dope,” and Facebook’s Mark Zuckerberg even set up an account and showed it off to his 102,000 followers. Another thing that The Fancy has going for it is the name of the site itself. It sounds as if users are being allowed to see, shop and buy items that appeal to the rich, talented and famous. With the simple but sharp name and the celebrity buzz, The Fancy is suddenly experiencing the hipness and exclusivity that made Facebook and then Pinterest so popular. For now, at least.